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Union Square Ventures co-founder, Fred Wilson, has published his annual post on the coming year. It is a long and sprawling piece of writing that seeks to divinate both technology and the financial worlds. Wilson believes that Trump is a term president, a rickety stock market and an overall and bumpy run for investors. Despite this, he claims to be "incredibly optimistic".
Wilson is a technology investor, so it should not be shocking to think he has thoughts about the blockchain world and what awaits him. 2018 was undoubtedly devastating for the crypto-enthusiasts, with the value of Bitcoin which fell over 80% and others that saw equally catastrophic drops. Many have wondered if the last drop was the bottom or if there was more slippage to the horizon.
According to Wilson, next year will be tough, but there is a light at the end of the tunnel. He writes:
I think we are about to find the bottom on large encrypted, liquid and durable tokens. But I think this process could take a lot of 2019. I predict that we will see some bullish runs, followed by sales pressures that take us back to testing the lows. I think this end-of-the-world process will end in 2019 e we will slowly enter a new bullish phase in the crypt.
He sees the launch of early blockchain-based projects that give the ecosystem a much needed impetus. Smart contracts, Wilson writes, will be an area where we will probably see real progress. He goes on to say that regulation will be a problem in general; "The area I am most concerned about is the actions taken by misguided regulators who will target high quality projects and damage them."
In addition, the investor expects even more cryptography and bankruptcies at the horizon. That, he writes, "is always the case with a new emerging technology that allows anyone to open a store and move on".
Although Wilson sees obstacles, he presents an overall positive outlook for the future of the crypt. Of course, there are some blockchain-based companies in your portfolio, so it probably has something to do with this. Even so, the message can sigh with relief. All they have to do is wait for most of 2019.
You can read Wilson's full post that looks to the future here.
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